Redefining data sharing within the insurance industry.
Imagine a future where the sharing of critical insurance data is as seamless as the transactions in your daily life. We explore the transformative potential of a platform designed to streamline processes for insurers, regulators, and agents, all while preserving privacy and security.
openIDL (Open Insurance Data Link) is an open blockchain network which standardizes and greatly simplifies data aggregation across the insurance ecosystem. We have tried data aggregation and standardization many times in the past, each time falling victim to poor timing and lack or technological efficiency. In this episode of Assignment of Benefits, we explore the not-for-profit nature of openIDL, we examine its roots from AAIS, to its current home, The Linux Foundation and how we can avoid similar lack of traction and utilization that we saw in previous standardization attempts.
As we wrap up our session with Werner Kruck, we cast our gaze wider, examining how open source software and standardization could reshape Florida’s insurance landscape, especially in light of the state’s unique data challenges. We contemplate the roles of third-party entities in analyzing anonymized data and the collective benefits that could ripple through society. This discussion is not just about a platform or a model; it’s about sparking conversations, igniting industry-wide collaboration, and pioneering change in data sharing and processing for the insurance sector—and we’re just getting started.
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The Assignment of Benefits podcast was:
- produced by Insurance Nerds
- hosted by Nick Lamparelli
About Nicholas Lamparelli
Nick Lamparelli is a 20+ year veteran of the insurance wars. He has a unique vantage point on the insurance industry. From selling home & auto insurance, helping companies with commercial insurance, to being an underwriter with an excess & surplus lines wholesaler to catastrophe modeling Nick has wide experience in the industry. Over past 10 years, Nick has been focused on the insurance analytics of natural catastrophes and big data. Nick serves as our Chief Evangelist.
Nick Lamparelli is a 20+ year veteran of the insurance wars. He has a unique vantage point on the insurance industry. From selling home & auto insurance, helping companies with commercial insurance, to being an underwriter with an excess & surplus lines wholesaler to catastrophe modeling Nick has wide experience in the industry. Over past 10 years, Nick has been focused on the insurance analytics of natural catastrophes and big data. Nick serves as our Chief Evangelist.
